Orion S.A.

Major Shareholding Notification • Dec 5, 2025

Orion Corporation: Disclosure Under Chapter 9 Section 10 of the Securities Market Act (BlackRock, Inc.)

Orion Corporation: Disclosure Under Chapter 9 Section 10 of the Securities Market Act (BlackRock, Inc.)

ORION CORPORATION

STOCK EXCHANGE RELEASE / MAJOR SHAREHOLDER ANNOUNCEMENTS

5 December 2025 at 17.00 EET

Orion Corporation: Disclosure Under Chapter 9 Section 10 of the Securities Market Act (BlackRock, Inc.)

Orion Corporation has received a disclosure under Chapter 9, Section 5 of the Securities Market Act, according to which the total number of Orion shares owned directly, indirectly and through financial instruments by BlackRock, Inc. and its funds increased on 4 December 2025 above (5) per cent of Orion Corporation’s total shares.

Total positions of BlackRock, Inc. and its funds subject to notification:

	% of shares and voting rights (total of point A)	% of shares and voting rights through financial instruments (total of point B)	Total of both in % (points A + B)	Total number of shares and voting rights of issuer
Resulting situation on the date on which threshold was crossed or reached	4.99% shares Below 5% voting rights	0.01% shares Below 5% voting rights	5.01% shares Below 5% voting rights	141,134,278 shares 744,770,339 voting rights
Position of previous notification (if applicable)	Below 5% shares Below 5% voting rights	Below 5% shares Below 5% voting rights	Below 5% shares Below 5% voting rights

Notified details of the resulting situation on the date on which the threshold was crossed:

Point A: Shares and voting rights:

Class/type of shares ISIN code	Number of shares and voting rights	% of shares and voting rights
	Direct (SMA 9:5)	Indirect (SMA 9:6 and 9:7)	Direct (SMA 9:5)	Indirect (SMA 9:6 and 9:7)
FI0009014377		7,055,972 shares Below 5% voting rights		4.99% shares Below 5% voting rights
POINT A SUBTOTAL	7,055,972 shares Below 5% voting rights	4.99% shares Below 5% voting rights

Point B: Financial instruments according to SMA 9:6a:

Type of financial instrument	Expiration date	Exercise / Conversion Period	Physical or cash settlement	Number of shares and voting rights	% of shares and voting rights
American Depositary Receipt (US68628Y1047)	N/A	N/A	Physical	193 shares Below 5% voting rights	0.00% shares Below 5% voting rights
CFD	N/A	N/A	Cash	22,183 shares Below 5% voting rights	0.01% shares Below 5% voting rights
			POINT B SUBTOTAL	22,376 shares Below 5% voting rights	0.01% shares Below 5% voting rights

Orion Corporation

Liisa Hurme President and CEO		Mikko Kemppainen General Counsel

Contact person:

Tuukka Hirvonen, Head of Investor Relations, Orion Corporation

tel. +358 10 426 2721 

Publisher:

Orion Corporation

Communications

Orionintie 1A, FI-02200 Espoo, Finland

www.orionpharma.com

Orion is a globally operating Nordic pharmaceutical company – a builder of well-being for over a hundred years. We develop, manufacture and market human and veterinary pharmaceuticals and active pharmaceutical ingredients. Orion has an extensive portfolio of proprietary and generic medicines and consumer health products. The core therapy areas of our pharmaceutical R&D are oncology and pain. Proprietary products developed by Orion are used to treat cancer, neurological diseases and respiratory diseases, among others. In 2024 Orion's net sales amounted to EUR 1,542 million and the company employed about 3,700 professionals worldwide, dedicated to building well-being. Orion's A and B shares are listed on Nasdaq Helsinki.